Eli Lilly and Company Reveals
Plan for Innovation Center in Cambridge, Massachusetts
Center will help to accelerate new drug delivery and
device innovation through external collaboration
INDIANAPOLIS (May 6, 2015) –
Eli Lilly and Company (NYSE: LLY) today announced plans to establish a
new drug delivery and device innovation center in Cambridge, Massachusetts – a
strategic location that will help attract top scientists and bioengineers, as
well as enhance Lilly’s local business development presence.
The Lilly Cambridge Innovation Center, a makerspace
located in Kendall Square, will allow leading life science experts and
organizations to explore how emerging technologies and connectivity can advance
drug delivery and device innovation to improve patient health.
Lilly Chairman, President and CEO John C.
Lechleiter, Ph.D., said the company is locating a portion of its delivery and device
organization in Cambridge – one of the nation’s
leading regions for research and development of medical delivery technologies –
to take advantage of the area’s rich engineering talent base and life sciences
ecosystem.
“The Lilly Cambridge
Innovation Center complements a deliberate push by the company to be an
industry leader in providing convenient, reliable drug delivery and device
innovation,” Lechleiter said. “Locating in Cambridge is an important strategic
move for achieving this goal, as it provides us access to a concentration of
high-caliber academic institutions, cutting-edge life science and technology
companies, and some of the world’s leading talent.”
Lechleiter added that the
center will serve as a portal for external partnerships and collaboration activities
with the company’s existing research facilities in San Diego, New York City and
Indianapolis.
Construction of the Lilly Cambridge Innovation
Center will begin immediately, with an expected occupancy by the end of 2015.
Over the next two years, the company will hire about 30 scientists and
engineers to fulfill the center’s work. When fully operational, the center will
increase the company’s delivery and device research and development space by nearly
50 percent, while increasing its staff by 25 percent.
The investment in Cambridge – part of the company’s
planned growth strategy in research and development of drug delivery and device
technologies – “underscores Lilly’s commitment to providing meaningful innovation
in this arena,” said Jan Lundberg, Ph.D., executive vice president of science
and technology and president of Lilly Research Laboratories.
Lundberg added, “New drug delivery and device
innovation is critically important to Lilly’s growing portfolio of potential medicines,
particularly in our focus areas of diabetes, neurodegeneration, immunology and
pain. The best therapies of the future will marry breakthrough scientific
discovery with customer-friendly devices. That’s what will make life better for
people who need our medicines and give Lilly a true competitive edge.”
Lilly’s drug portfolio and pipeline have changed significantly over the
past decade. More than half of the company’s pipeline now comprises biologics
that require some type of injection. The company expects its revenues from device-enabled
products to double by 2020.